Loading ...Gold Bulls Foiled Again
Oh So Close..
The sneer is gone from Barrick’s lip, his teeth are clenched in hate;
he pounds with cruel violence his bat upon the plate.
And now the Bankster holds the ball, and now he lets it go,
and now the air is shattered by the force of Barrick’s blow.
Oh, somewhere in this favored land the sun is shining bright;
the band is playing somewhere, and somewhere hearts are light,
and somewhere men are laughing, and somewhere children shout;
but there is no joy in Goldtent — mighty Barrick has struck out.
$1300-$1310 is decisive. Once breached, I think the debate is pretty much over. I notice volume is rising and, open interest is slowly creeping up, with higher highs and higher lows. It’s at a very low level, which is exactly where you need it to be at the birth of a young bull. As previously stated, the charts, indicators, cycles, political backdrop are all supportive of an upward surge here. We need more volume, and more new money to pour into the PM space. Perhaps the debt ceiling ‘issue’ or Trumps ‘issues’ or the stock market ‘issues’ or all 3, or something else (global conflict ?) will do it. I really don’t know, but unless $1180 is breached to the downside, we’re on track. A move below $1250 will perk my interest, a move below $1200 will have me questioning my position, a move below $1180 and I’m completely wrong on this. We’re going to know in the next few weeks, or even days.